Cryptocurrencies

Trade Cryptocurrencies like Ripple, Bitcoin and Ethereum

The digital coin has revolutionized the world of finance. Designed to be transferred digitally between counterparties, cryptocurrencies are well suited to investors who are keen on technology and the currency markets. Get an overview of prices, charts and markets from us.

Trade with the South African licensed and award-winning cryptocurrency trading broker. Open an account today and enjoy features and benefits that CM Trading has to offer.

How to Trade Cryptocurrencies

From time to time, the term cryptocurrency has grabbed a spot in multiple news outlets with experts suggesting that it is the future of holding money in the digital era. Simply put, cryptocurrency is a decentralized virtual currency which applies mathematical principles to secure and verify transactions. Cryptocurrencies is a dawn of a new economy, which offers a unique way of storing and spending money anonymously. That implies the absence of the intervention from the central bank or any financial institution. trading stock in the given capital market. CM trading aims to enhance your trading performance by providing you with incredible forex trading signals to ensure your continued growth.

The technology used in cryptocurrency is relatively new, and very soon, financial institutions are likely to incorporate the procedure when conducting their financial transactions. This digital cash system has provoked fascination even in CM Trading which has embraced it accordingly to help conduct transactions. One fantastic thing about cryptocurrency is that records kept are not susceptible to exploitation mainly from hackers. All transactions get recorded in a digital public ledger called the blockchain which cannot be changed once verified.

The most popular Cryptocurrencies

Bitcoin

Bitcoin is the most popular cryptocurrency. In the last couple of years, Bitcoin has maintained an outstanding reputation regarding its stability and popularity among users.

Litecoin

Litecoin is a form of cryptocurrency started by a former Google employee. More retailers are accepting Litecoin because it is a peer-to-peer internet currency that allows users to transact with anyone in the world at a relatively reduced cost. This global payment network is decentralized and enables individuals to control their finances in a secure, fast, transparent, and efficient method.

ETHEREUM

The Ethereum or Ether cryptocurrency as it’s commonly known, offers a more advanced and flexible platform compared to the Blockchain. Aside from the cryptocurrency itself, developers can build full-scale applications within the Ethereum platform. This technology has been used by major financial institutions across the world to develop their own solutions. 

ripp

RIPPLE (XRP)

Ripple is another exciting altcoin, which supports fiat currencies, cryptos as well as commodities and other services. However, Ripple owes its popularity to its native cryptocurrency, the XRP, which has managed to become the third-largest cryptocurrency following Bitcoin and Ethereum.  

CRYPTOCURRENCY FORKS

Cryptocurrencies are designed  to be accessible by everyone and their code is open source as well. This means that anyone can access the code that makes up the blockchain and use the code as a template to build another cryptocurrency under new/modified rules.  

 

In fact, Litecoin is a notable Bitcoin fork that was mainly developed to execute a larger amount of transactions with much faster turnaround. Other Bitcoin forks are Bitcoin Cash and Bitcoin Gold.  

Challenges of using cryptocurrency

Cryptocurrency itself is new in the market and more business lack enough awareness to incorporate it into their daily operations fully. Cryptocurrency hasn’t reached its full potential to dominate the crypto market completely.

Furthermore, cryptocurrency market is never stationary. The exchange rates keep varying which makes it hard to predict where the rates will be the next day.

Types of cryptocurrency wallets:

Desktop wallets

Desktop wallets are installed on a desktop computer. They function as an address for the user to send and receive Bitcoins. They also allow the user to store a private key.

Online wallets

These are Bitcoin wallets that are online and can be accessed from anywhere. The selection of your web wallet must be done carefully since it stores your private keys online.

Mobile wallets

An electronic interface to a user's bitcoins on your mobile device. This allows you to access your Bitcoin funds anywhere.

Paper wallets

A paper wallet is a secure offline mechanism for storing bitcoins. This is an actual piece of paper that holds your public keys and private keys usually in the form of QR codes.

Hardware wallets

A hardware wallet is a high-security storage device that enables you to store your funds offline. You connect it to a device when you need to manage your funds.

Why trade cryptocurrencies with CM Trading

The invention of cryptocurrency is the best thing that has ever happened to the planet earth. In this digital era, there is a need to digitize your cash, with that being the primary reason why you should incorporate the use of cryptocurrency. CM Trading hasn’t been left behind and has included this system in our daily activities.

The future of cryptocurrency is most promising. The cryptocurrency market is fast and wild, mostly ready to turn the world around. The revolution is already happening, and CM trading is no exception. Institutional investors have begun trading cryptocurrencies with us because they have realized this phenomenon has the potential to boost control of their trade.

At CM Trading, we believe in the validity of cryptocurrencies because forex trading involves significant financial transactions that can be unsafe or insecure. That justifies our primary reason why we have shifted towards the use of digital cash to prevent you from falling a victim of fraud. A few other reasons why you should trade cryptocurrency with CM Trading includes:

  • Low transaction fees – We believe cryptocurrency is a viable investment because of the lower transaction fee. Compared to the traditional trading method, trade with CM trading has low transaction fee because the network compensates the remote computer system in addition to small fees for significant transactions.
  • Complete access to your money – With your digital key, access to your currency is yours alone. Unlike cash you store at a bank, your use of your cryptocurrency cannot be frozen or limited by any entity.
  • Identity protection – Cryptocurrency has increased the ease by which one can conduct international trade. Trading with cryptocurrency doesn’t require an individual to submit sensitive banking information which might get stolen. Instead, one can trade with cryptocurrency by receiving it directly without any data being sent.
  • Easily Accessible – One significant advantage of why you should trade cryptocurrency with CM Trading is because of accessibility. Peer-to-peer aspect of the blockchain technology enabled cross-border transactions aided by the fact that billions of people can access the Internet. Cryptocurrency transactions are available to consumers with access to digital infrastructure and hence does not requires the bank to receive payments electronically.
  • Risk-free for sellers – You won’t be a victim of fraud once you consider trading cryptocurrency with CM Trading since payments using cryptocurrency can’t be reversed. Another incredible aspect is that most cryptocurrencies use a proof-of-work system which limits exploitation of cryptocurrency mining.
  • Decentralized trade – It implies that you can engage in cryptocurrency exchange without a central controlling server. As a result, you have full control of funds rather than relying on a central corporation. At CM trading, we let you have custody of your deposits. You can control all the money since the network uses a P2P network architecture. Thus, you can engage smart contracts and manage your funds at all times with no third-party escrow intermediary required to facilitate trade.

Conclusion

Be part of history by joining CM Trading today which is always at the forefront of making trading easy. As an online Forex broker, we strive to make our clients reach their individual’s goals as we continue to innovate and improve our crypto infrastructure.